Cash on delivery (COD) is a widely favored payment method in the Philippines, particularly for online purchases, as there is a prevailing lack of trust in digital transactions and apprehensions about potential fraud. This method enables customers to settle their payments in cash upon receiving their orders, instilling a sense of security and confidence in the transaction process. Additionally, the remittances sent by overseas Filipino workers (OFWs) significantly contribute to the country’s payment ecosystem, with services like Western Union, MoneyGram, and Xoom being commonly utilized for these financial transfers. Despite the potential for the future popularity of e-Wallets, the current landscape is predominantly shaped by online banking and traditional cash transactions, encompassing COD and remittances.
Popular offline payment methods in the Philippines
Cash
Bank Transfers
Over-the-Counter (OTC)
Mobile Payments
Remittance Centers
Cheques
Debit Cards
Barter or Trade
Convenience Stores
List of payment methods in the Philippines
Visa is widely accepted as a payment method in the Philippines. It can be used for various transactions, including shopping, dining, and online purchases. Many establishments, such as malls, restaurants, and hotels, accept Visa cards. Additionally, Visa cards can also be used to withdraw cash from ATMs in the Philippines.
Mastercard enjoys widespread acceptance as a versatile payment method for both online and offline transactions. Whether you’re shopping at retail stores, dining at restaurants, staying at hotels, or making online purchases, Mastercard is a convenient choice. To utilize Mastercard for payments, one must possess a credit or debit card issued by a bank or financial institution, and the application process can be initiated through the bank or its website. Once you have a Mastercard, it can be used at various merchants, and for online transactions, you simply choose Mastercard as your payment option and input your card details. In-store purchases can be completed by either swiping the card or using contactless payment if supported.
Gcash, operated by Globe Telecom, stands as a prominent mobile wallet in the Philippines, facilitating users in conducting diverse financial transactions through their mobile phones. Renowned for its convenience and security, Gcash serves as a versatile payment method, enabling users to effortlessly settle payments for a myriad of goods and services both online and offline by scanning QR codes or entering merchant mobile numbers. Accepted widely by various merchants, including supermarkets, restaurants, and online shops, Gcash extends its utility to bill payments and government services. Beyond payments, the platform offers additional financial services, such as money transfers, cash withdrawals, and savings accounts. Users can link their Gcash accounts to bank accounts or credit cards for seamless top-ups. To initiate Gcash usage, users download the app, register, and load funds through diverse channels like bank transfers or remittance centers. As a catalyst in transitioning Filipinos from traditional cash transactions to digital payments, Gcash has emerged as a favored choice, rendering financial transactions more accessible and efficient.
PayPal stands as a widely embraced payment method, facilitating secure online transactions, money transfers, and receipt of payments. Numerous online merchants and service providers in the country acknowledge PayPal, offering users a convenient means to make online purchases or settle service payments. To utilize PayPal in the Philippines, individuals must create an account and link it to their bank account or credit card. Once the account is established, users can effortlessly execute payments by opting for PayPal on supported websites or applications. The process involves being redirected to the PayPal website to log in and confirm the payment. Additionally, PayPal extends its functionality through a mobile app, empowering users to make payments on the move by downloading the app on their smartphones and linking it to their PayPal account. Beyond facilitating online payments, PayPal enables users in the Philippines to receive payments from other PayPal users or businesses, proving especially beneficial for freelancers and small business operators engaging with international clients. In essence, PayPal serves as a reliable and secure avenue for individuals and businesses in the Philippines to conduct seamless online transactions.
GrabPay is a mobile wallet and payment method that can be used in the Philippines. It is accepted as a payment option in various merchants, including restaurants, shops, and online platforms. To use GrabPay, you need to download the Grab app on your smartphone and create an account. You can then link your credit or debit card to your GrabPay wallet or top up your wallet using cash at selected locations. Once your GrabPay wallet is funded, you can use it to make payments by scanning the merchant’s QR code or entering the merchant’s mobile number. GrabPay also offers various promotions and rewards for using their service.
